Consultant selected for sale of Albtelecom minority stake

TIRANA – Government has selected Croatian consortium Zagrebacka Banka d.d, UniCredit Markets & Investment Banking as sale consultant to sell the remaining state-owned minority stake in fixed-line phone operator Albtelecom. The Croatian consortium, selected in an international tender by the Economy Ministry last March, will receive 130,000 dollars as sale consultant.
The consortium had also served as government’s consultant in the sale of the 12.6 percent stake in the Albanian Mobile Communication (AMC) mobile operator to Greece’s Cosmote for 48.2 million euros last year.
Turkey’s Calik Enerji Telekomunikasyon AS and Turk Telekom (TTKOM.IS) bought 76 percent of Albtelecom for 120 million euros ($154 mln) three years ago after re-negotiating a contract it had signed with the previous Socialist government in 2005.
Albtelecom is the largest fixed-line phone operator in the country offering its services in all urban areas of the country. It operates on the Albanian market with some major services such as fixed telephone, ISDN service, Dedicated Internet acc, ADSL, Dial-up, Intranet, Prepaid Cards, etc.
Albtelecom has borrowed 100 million euros ($128 million) from the European Bank for Reconstruction and Development and Black Sea Bank to upgrade its network and increase capacity.